In a recent development in the Delhi High Court, fintech giant BharatPe and its former co-founder Ashneer Grover, along with his wife Madhuri Jain Grover, have proposed to end their legal strife following a settlement over an alleged Rs 81 crore fraud case.
Justice Chandra Dhari Singh was apprised on Monday that both parties had reached an amicable resolution, signed on September 30, and now seek the quashing of the FIR lodged against Grover and his family. The court has allowed time until the next hearing on October 8, for Grover’s counsel to submit an affidavit confirming adherence to the settlement terms.
The State’s prosecutor has also been directed to deliver a status report on the case within two days. This directive aims to ensure that all legal procedures are followed correctly in the resolution of the dispute.
Senior advocate Mohit Mathur, representing the Grover family, stated that all disagreements between Resilient Innovations Pvt Ltd, which operates BharatPe, and the accused parties have been resolved. The legal battle stemmed from severe allegations against Grover, his wife, and several associates, including charges of criminal breach of trust, cheating, forgery, and criminal conspiracy as per various sections of the Indian Penal Code (IPC).
The controversy began when BharatPe accused Ashneer Grover and his associates of orchestrating fraudulent transactions amounting to Rs 81.3 crore. This involved dubious payments to non-existent HR consultants, excessive fees to vendors linked to the accused, and fraudulent transactions linked to input tax credits. Further allegations included unlawful payments to travel agencies and the use of forged invoices spearheaded by Madhuri Jain Grover during her tenure as the Head of Controls.
The case has seen significant developments since Madhuri Jain Grover’s dismissal following a forensic audit in 2022 and Ashneer Grover’s subsequent resignation as CEO in March of the same year.
